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Accounts and transactions with related parties | 12 Months Ended
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Dec. 31, 2017
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Accounts and transactions with related parties |
23. | Accounts and transactions with related parties
|  | 2017 |  |  | 2016 |
Account receivable - |  |  |  |  |  |  |  |
Panama Air Cargo Terminal |  | $ | 254 |  |  | $ | — |
Editora del Caribe, S.A. |  |  | 32 |  |  |  | 15 |
Petroleos Delta, S.A. |  |  | 19 |  |  |  | 5 |
Banco General, S.A. |  |  | 12 |  |  |  | — |
Assa Compañía de Seguros, S.A. |  |  | 1 |  |  |  | 479 |
|  | $ | 318 |  |  | $ | 499 |
Account payable - |  |  |  |  |  |  |  |
Petróleos Delta, S.A. |  | $ | 10,371 |  |  | $ | 7,504 |
Assa Compañía de Seguros, S.A. |  |  | 1,431 |  |  |  | 687 |
Desarrollos Inmobiliarios del Este, S.A. |  |  | 650 |  |  |  | 421 |
Motta International, S.A. |  |  | 81 |  |  |  | 25 |
Panama Air Cargo Terminal |  |  | 200 |  |  |  | — |
Cable Onda, S.A. |  |  | 112 |  |  |  | 21 |
Galindo, Arias & López |  |  | 31 |  |  |  | 16 |
Global Brands, S.A. |  |  | 4 |  |  |  | 7 |
|  | $ | 12,880 |  |  | $ | 8,681 |
Transactions with related parties for the year ended December 31 are as follows:
Related party |  | Transaction |  | Amount of transaction 2017 |  |  | Amount of transaction 2016 |  |  | Amount of transaction 2015 |
Petróleos Delta, S.A. |  | Purchase of jet fuel |  |  | 290,172 |  |  |  | 229,899 |  |  |  | 248,944 |
ASSA Compañía de Seguros, S.A. |  | Insurance |  |  | 8,527 |  |  |  | 7,128 |  |  |  | 9,170 |
Desarrollo Inmobiliario del Este, S.A. |  | Property leasing |  |  | 3,625 |  |  |  | 3,795 |  |  |  | 2,982 |
Profuturo Administradora de Fondos de Pensión y Cesantía |  | Payments |  |  | 2,386 |  |  |  | 3,238 |  |  |  | — |
Motta International |  | Purchase |  |  | 1,632 |  |  |  | 1,646 |  |  |  | 1,290 |
Cable Onda, S.A. |  | Communications |  |  | 1,448 |  |  |  | 1,625 |  |  |  | — |
GBM International, Inc. |  | Technological support |  |  | 273 |  |  |  | 272 |  |  |  | 533 |
Galindo, Arias & López |  | Legal services |  |  | 373 |  |  |  | 341 |  |  |  | 271 |
Global Brands, S.A. |  | Purchase |  |  | 79 |  |  |  | 67 |  |  |  | 47 |
Panama Air Cargo Terminal |  | Handling |  |  | 4,869 |  |  |  | — |  |  |  | — |
Lubricantes Delta, S.A. |  | Fuel accesories |  |  | — |  |  |  | 63 |  |  |  | — |
Editora del Caribe, S.A. |  | Advertising |  |  | 4 |  |  |  | (162 | ) |  |  | 22 |
Banco General, S.A. |  | Interest income |  | $ | (2,986 | ) |  | $ | (1,284 | ) |  | $ | (1,301 | )
Banco General, S.A.: The Company’s controlling shareholders have a vote and a decision within the board of directors of BG Financial Group, which is the controlling company of Banco General. Likewise, Banco General, S. A. owns ProFuturo Administradora de Fondos de Pensión y Cesantía S.A., which manage the Company’s reserves for pension purposes. Petróleos Delta, S.A.: Since 2005, the fuel company entered into a contract with the Company to meet its jet fuel needs. The contract’s term is two years, and the last contract subscribed was on June, 2016. As of December 31, 2017, the Company maintained guarantee deposits with Petróleos Delta, S.A. in the amount of $11.8 million (2016: $7 million), recorded as “Other non-current assets” in the consolidated statement of financial position. While the Company’s controlling shareholders do not hold a controlling equity interest in Petróleos Delta, S. A., various members of the Company’s Board of Directors are also board members of Petróleos Delta, S. A. ASSA Compañía de Seguros, S. A.: An insurance company controlled by the Company’s controlling shareholders that provide substantially all of the Company’s insurance policies. Desarrollo Inmobiliario del Este, S. A.: The Company leases five floors consisting of approximately 121,686 square feet of the building from Desarrollo Inmobiliario, an entity controlled by the same group of investors that controls Corporación de Inversiones Aéreas, S. A. (“CIASA”). CIASA owns 100% of the class B shares of the Company. Motta Internacional, S.A. & Global Brands, S. A.: The Company purchases most of the alcohol and other beverages served on its aircraft from Motta Internacional, S. A. and Global Brands, S. A., both of which are controlled by the Company’s controlling shareholders. GBM International, Inc.: Provides systems integration and computer services, as well as technical services and enterprise management. A member of the Company’s Board of Directors is shareholder of GBM International, Inc. Galindo, Arias & López: Certain partners of Galindo, Arias & López (a law firm) are indirect shareholders of CIASA and serve on the Company’s Board of Directors. Editora del Caribe, S.A.: this Panamanian publisher is responsible for publishing the official journal of Copa Airlines “Panorama of the Americas”. A member of the Company’s Board of Directors is shareholder of Editora del Caribe, S. A. Cable Onda, S.A.: The Company is responsible for providing television and internet broadcasting services in Panama. A member of the Company’s Board of Directors is shareholder of Cable Onda, S. A. Panama Air Cargo Terminal: Provides cargo and courier services in Panama, an entity controlled by the same group of investors that controls CIASA. Compensation of key management personnel Key management personnel compensation is as follows:
|  | 2017 |  |  | 2016 |  |  | 2015 |
Short-term employee benefits |  | $ | 5,133 |  |  | $ | 3,763 |  |  | $ | 3,570 |
Post-employment pension |  |  | 99 |  |  |  | 72 |  |  |  | 68 |
Share-based payments |  |  | 5,524 |  |  |  | 5,799 |  |  |  | 3,023 |
|  | $ | 10,756 |  |  | $ | 9,634 |  |  | $ | 6,661 |
The Company has not set aside any additional funds for future payments to executive officers, other than one pursuant to a non-compete agreement for $3.1 million established in 2006 (see note 21).

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- Definition The entire disclosure for related parties. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 24 -IssueDate 2017-01-01 -Section Disclosures -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=24&date=2017-03-01&anchor=sect_Disclosures&doctype=Standard -URIDate 2017-03-09 + Details
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